This bill would establish an employment-based, conditional immigrant visa. This new type of visa will be known as a StartUp visa, and will be offered to sponsored immigrant entrepreneurs who:
Are financially backed by a qualifying investor or venture capitalist.
Will undertake commercial activities that will generate employment, revenue, or capital investment.
The Secretary of Homeland Security (DHS) would be directed to terminate the status of a sponsored entrepreneur (and the entrepreneur’s immigrant spouse and children) if after three years of permanent resident status being granted:
The sponsoring venture capitalist or investor fails to meet investment requirements.
The entrepreneur fails to meet job creation, capital investment, or revenue requirements.